Crocs PT Raised to $16.00 at Imperial Capital (CROX)
Equities research analysts at Imperial Capital lifted their price target on shares of Crocs (NASDAQ:CROX) from $14.00 to $16.00 in a research note issued to investors on Tuesday, American Banking News reports. The firm currently has an “in-line” rating on the stock. Imperial Capital’s price target suggests a potential downside of 0.87% from the company’s current price.
The analysts wrote, “We anticipate an increased focus on earning growth and profitability, a likely more moderate rate of growth of its own retail stores, and increased efforts to improve financial performance in the Americas and Japan,” the report said. “While there is still uncertainty surrounding the long-term strategy and details around how the company plans to improve profitability, we believe the partnership with Blackstone points Crocs in the right direction.”
Crocs (NASDAQ:CROX) opened at 16.14 on Tuesday. Crocs has a one year low of $11.96 and a one year high of $17.95. The stock’s 50-day moving average is $13.33 and its 200-day moving average is $14.06. The company has a market cap of $1.427 billion and a price-to-earnings ratio of 16.18. Crocs also saw unusually large options trading on Monday. Stock traders bought 11,861 call options on the company. This is an increase of approximately 594% compared to the average volume of 1,710 call options.
Crocs (NASDAQ:CROX) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.18 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.18. The company had revenue of $288.50 million for the quarter, compared to the consensus estimate of $291.70 million. During the same quarter in the previous year, the company posted $0.49 earnings per share. The company’s revenue for the quarter was down 2.4% on a year-over-year basis.
A number of other analysts have also recently weighed in on CROX. Analysts at Stifel Nicolaus reiterated a “buy” rating on shares of Crocs in a research note to investors on Monday. Separately, analysts at Sterne Agee upgraded shares of Crocs from an “underperform” rating to a “neutral” rating in a research note to investors on Monday. They now have a $10.00 price target on the stock. Finally, analysts at Goldman Sachs Group Inc. reiterated a “neutral” rating on shares of Crocs in a research note to investors on Tuesday, November 19th. They now have a $13.00 price target on the stock. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $15.29.
Crocs, Inc is a designer, manufacturer and distributor of footwear and accessories for men, women and children.
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